Short Interest in Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) Increases By 351.4%

Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 4,153 shares, a growth of 351.4% from the July 15th total of 920 shares. Based on an average daily volume of 1,093 shares, the days-to-cover ratio is presently 3.8 days. Currently, 0.4% of the shares of the stock are sold short.

Addex Therapeutics Trading Down 6.3%

NASDAQ:ADXN traded down $0.38 during midday trading on Thursday, hitting $5.58. 2,107 shares of the company traded hands, compared to its average volume of 1,236. The firm’s fifty day moving average is $5.99 and its 200-day moving average is $6.61. Addex Therapeutics has a 12-month low of $5.04 and a 12-month high of $12.05. The firm has a market capitalization of $6.86 million, a P/E ratio of -0.94 and a beta of 1.50.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Addex Therapeutics in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Addex Therapeutics Company Profile

Addex Therapeutics SA is a clinical-stage biopharmaceutical company specializing in the discovery and development of small-molecule allosteric modulators for central nervous system disorders. Founded in 1999 and headquartered in Geneva, Switzerland, with a U.S. research presence in Cambridge, Massachusetts, the company focuses on targeting metabotropic glutamate (mGlu) receptors and GABAB receptors to address unmet medical needs in neurology and psychiatry.

The company’s lead candidate, dipraglurant (ADX48621), is an mGlu5 negative allosteric modulator in clinical development for levodopa-induced dyskinesia in Parkinson’s disease.